Almost 20% more people use online banking than
Facebook, results from a research conducted by Nationwide Building
Society have revealed. 

The research about what consumers do online,
conducted by independent market research agency Opinion Matters for
Nationwide between 31 August and 14 September, reveals that 77%
respondents log on to online banks whereas a total of 58% log on to
Facebook, Twitter and other social media.

The sample size of the online research
was a minimum of 1,500 respondents in the UK. Online shopping –
also preferred by 77% of the respondents – has topped the
Nationwide research jointly with online banking.

The research also shows that a quarter (25%)
of people use online banking 2-4 times a week and 12% go online to
bank once a day.

Nationwide’s research coincides with the
launch of Nationwide’s new internet bank, which aims to make online
banking easier and faster.

The new Nationwide research also reveals that
looking for holidays (65%) is another top reason for people to
browse the internet – more popular than social media. Other things
consumers do online are use auction sites such as eBay (53%) and
download movies or music (36%).

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The research shows that only 3% more men go
online to bank (79%) as compared to females (76%). Similarly, women
only out-shop their male counterparts by 4% (79% vs 75%).

Nationwide’s head of channel integration
Richard Searle said, “I have to say even we were surprised to see
it beat social media (e.g. Facebook) as one of the top reasons the
nation goes online.”

Nationwide’s new internet bank will begin to
be made available October onwards and all customers and members
will automatically be transferred, in a phased programme, by

Updated features of Nationwide’s new internet
bank will include new calendar view of transactions, easy to
understand graphs and quick links to popular transactions among
others. The online bank has been designed with the help of
Nationwide customers, and in association with IBM, as part of the
Nationwide’s transformation programme.

Nationwide, the UK’s largest building society by assets, has a
network of 700 branches.